Definition of: penalty

(pen′əl·tē) noun plural ·ties
1. The consequences, as suffering, detriment, etc., that follow the transgression of laws.
2. Judicial punishment for crime or violation of the law.
3. Law a A sum of money fixed by a statute as a fine or mulct for a violation of its provisions. b A sum of money paid and stipulated to be forfeited in case of the non–performance of the conditions of a contract.
4. A handicap imposed for a violation of rules or regulations of a game. [<Med. L poenalitas, -tatis <L poenalis PENAL]